tax credits

Wyoming Senator Mike Enzi is one of three U.S. legislators sponsoring a bill that would help ease the process for earning tax credits related to carbon capture.

The existing carbon capture tax credit offers a maximum of 150 million dollars total per year, or a national cap set at 75 million tons of carbon, to companies which capture or reuse greenhouse gases instead of releasing them into the air. The credit expires once that limit is reached. That breaks down to a credit of $10 per ton for enhanced oil recovery, and $20 per ton for carbon capture.